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February 4th - Barbara Hampton, CEO of U.S. Rare Earth Corporation, stated that the company has over $3 billion in potential funding to build a domestic rare earth and critical mineral supply chain. Hampton anticipates that the funding includes up to $1.6 billion in grants from the U.S. Department of Commerce, with the remainder coming from the private sector. She stated that this would enable the Round Top deposit to begin production by 2028. She said, "Our current communications indicate that the U.S. government is willing to make procurement commitments several years earlier to ensure supply stability." Following the governments announcement of a $12 billion critical mineral reserve plan, the companys stock price rose over 17% on Tuesday. It should be noted that federal funding is contingent on achieving phased goals, and private sector investments have not yet been finalized. However, Hampton emphasized that this funding will allow the company to accelerate its plans.A U.S. judge issued a temporary restraining order restricting Portland, Oregons Immigration and Customs Enforcement agency from taking any action against peaceful protesters and journalists.OpenAI issued a statement regarding the ChatGPT outage: All affected services have now been fully restored.AMD (AMD.O) CEO Lisa Su: We expect to expand our artificial intelligence business to tens of billions of dollars in sales annually by 2027.AMD (AMD.O) CEO Lisa Su: The company is in a favorable position, and the annual growth rate of data center business revenue is expected to exceed 60% in the next three to five years.

WTI stays in positive zone despite a dip in Asia

Jan 10, 2023 14:43

截屏2022-12-29 下午4.54.13_1024x576.png 

 

West Texas Intermediate, or WTI, is down during the Asian session, losing about 0.4% at the time of writing amid optimism that China's demand will increase after the government set new import limitations. However, overnight and at the start of the week, the news provided economic support for its faltering economy, while the US Dollar sank, allowing investors to enter the black gold rise at a lower cost.

 

China has reopened its borders to international visitors for the first time since March 2020, when it implemented travel restrictions. Elsewhere, China has continued to demolish a large portion of its draconian zero-COVID movement regulations. According to the BBC, incoming travelers will no longer be required to be quarantined, marking a dramatic change in the country's Covid policy as it fights an outbreak. They will continue to require documentation of a negative PCR test conducted within 48 hours after flight.

 

As a result, oil prices increased early on Monday in anticipation of an uptick in demand from China, as the nation set new import curbs and offered economic support to its faltering economy. Last observed, spot West Texas Intermediate crude was priced at $ 74.57 per barrel.

 

ANZ Bank analysts explained: "China announced a new batch of import limits, an indication that the world's largest importer is gearing up to meet increased demand."

 

"The relaxation of COVID-19 regulations has already increased travel. According to the Ministry of Transport, approximately 34.7 million domestic journeys were made on the first day of the Spring Festival travel rush. This is around 40% higher than comparable days in 2022. Approximately 2.1 billion trips are anticipated during the next 40 days. This comes amid tightened supply,'' the analysts added.

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